What is Invapay?

"Simplicity is the ultimate sophistication" - Leonardo Da Vinci

Invapay is a trading and payment system that allows business to order from and pay any vendor, including those in the ‘long tail’ of ad hoc and one-time-only vendors.

One-time-only vendors can account for 80% of an organisation's purchase-to-pay administrative costs. Invapay offers a simple and cost effective way to process these vendors and deal with vendor payments.

Invapay provides:

• A simple way to trade without setting up a 'long tail' of one-off
  ad hoc vendors
• Improved visibility and control of spend, whilst reducing procurement
• Full access to Level 3 Line Item Detail
• An easy mechanism to drive purchase order compliance
• An opportunity to make maximum use of credit lines and
  improve liquidity

Why do I need Invapay?

Invapay helps vendors to trade with you without the administrative headache of being set up on your system, participating in your P Card programme, or waiting to get paid. 
Buyers often prefer to deal with one-time-only vendors through P Cards, however the cost of participating in P Card programmes discourages many vendors.  Invapay removes this necessity, and ensures vendors receive payment within five days (subject to terms established with the buyer).

Whether using P Cards or not, an organisation will benefit from the Invapay system through reduced paperwork and administration (and associated costs), better quality of data per transaction (level 3 detail supplied as standard), and improved purchasing compliance from business units (removing the problem of maverick spend).

How does it work?

Invapay acts as a simple but data-rich intermediary - accepting buyer orders and payments (of all types) on behalf of vendors, and automatically transferring funds to the vendor’s bank account within five days from invoice submission (subject to terms established with the buyer).
The process is similar to the way PayPal(TM) works for consumer transactions, but Invapay was developed specifically as a Business to Business solution.

In a nutshell, buyers place their order with their chosen vendor via the Invapay system.  The vendor accepts and processes the order, receiving payment from Invapay direct in to their bank.  Invapay sends transaction information (at level 3 detail) to the buyer in a format to integrate to the ERP system.